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Charts & Analysis

May 2013 Manufacturing PMI Falls to 50 Month Low at 50.5

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The HSBC Markit Purchasing Managers Index (PMI) for Manufacturing has fallen to 50.5 in May 2013, which is the lowest in over four years.

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Given this, and the dramatic fall in GDP, we might actually see the RBI cut rates some more very soon, perhaps even in June. However, bond yields rose about 7 basis points which might indicate the market doesn’t really think so.

Services PMI comes in on Wednesday – that’s been holding up the overall PMI. If that slows down too, it’ll be one more notch down for this indicator.

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